Marsons Ltd
Incorporated in 1976, Marsons Ltd
is engaged in manufacturing of transformers in the capacity range of 100 MVA 132KV class[1]
- Market Cap ₹ 2,588 Cr.
- Current Price ₹ 152
- High / Low ₹ 232 / 120
- Stock P/E 55.9
- Book Value ₹ 12.6
- Dividend Yield 0.03 %
- ROCE 25.4 %
- ROE 27.2 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 86.8% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.1%
- Debtor days have improved from 378 to 160 days.
Cons
- Stock is trading at 12.0 times its book value
- Tax rate seems low
- Company has high debtors of 160 days.
- Promoter holding has decreased over last 3 years: -21.4%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Electrical Equipment Other Electrical Equipment
Part of BSE Industrials
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2015 15m | Mar 2016 9m | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 72 | 103 | 100 | 17 | 0 | 0 | 0 | 2 | 5 | 6 | 168 | 245 | |
| 64 | 90 | 97 | 64 | 20 | 1 | 1 | 2 | 4 | 5 | 143 | 203 | |
| Operating Profit | 8 | 13 | 3 | -47 | -19 | -1 | -1 | 0 | 1 | 1 | 25 | 42 |
| OPM % | 11% | 12% | 3% | -283% | -5,506% | -176% | 1% | 23% | 18% | 15% | 17% | |
| 5 | 1 | 1 | -8 | -1 | -0 | 0 | 0 | 6 | 0 | 3 | 2 | |
| Interest | 14 | 8 | 10 | 5 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 1 |
| Depreciation | 4 | 3 | 2 | 5 | 3 | 2 | 2 | 1 | 1 | 1 | 0 | 1 |
| Profit before tax | -5 | 3 | -8 | -65 | -23 | -3 | -2 | -1 | 3 | 1 | 28 | 42 |
| Tax % | -1% | -21% | 22% | 0% | -8% | 0% | 0% | 0% | 0% | 0% | 0% | -10% |
| -5 | 4 | -10 | -65 | -22 | -3 | -2 | -1 | 3 | 1 | 28 | 46 | |
| EPS in Rs | -1.90 | 1.66 | -3.98 | -25.90 | -8.63 | -0.24 | -0.18 | -0.10 | 0.26 | 0.04 | 1.63 | 2.69 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 275% |
| 3 Years: | 277% |
| TTM: | 46% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 27% |
| 5 Years: | 87% |
| 3 Years: | 160% |
| TTM: | 86% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 28% |
| 5 Years: | 71% |
| 3 Years: | 188% |
| 1 Year: | -24% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 27% |
| 3 Years: | 29% |
| Last Year: | 27% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 25 | 25 | 25 | 25 | 25 | 12 | 12 | 12 | 12 | 14 | 17 | 17 |
| Reserves | 23 | 27 | -8 | -72 | -94 | -9 | -11 | -13 | -9 | 0 | 105 | 200 |
| 67 | 71 | 76 | 86 | 84 | 22 | 23 | 23 | 15 | 9 | 3 | 1 | |
| 44 | 102 | 44 | 37 | 23 | 0 | 1 | 1 | 6 | 6 | 27 | 72 | |
| Total Liabilities | 160 | 226 | 137 | 76 | 38 | 26 | 25 | 23 | 23 | 30 | 152 | 291 |
| 33 | 30 | 29 | 24 | 21 | 19 | 17 | 16 | 13 | 13 | 14 | 65 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 25 |
| Investments | 10 | 37 | 12 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 37 | 0 |
| 117 | 158 | 96 | 49 | 17 | 7 | 8 | 7 | 10 | 17 | 101 | 200 | |
| Total Assets | 160 | 226 | 137 | 76 | 38 | 26 | 25 | 23 | 23 | 30 | 152 | 291 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -3 | 27 | 4 | -7 | 1 | -13 | -0 | 0 | 0 | -4 | -35 | 2 | |
| -6 | -25 | -1 | 1 | -0 | 3 | 0 | 0 | 8 | -0 | -38 | 12 | |
| 8 | -3 | -4 | 5 | -2 | 10 | 0 | -0 | -8 | 4 | 74 | -4 | |
| Net Cash Flow | -1 | -1 | -0 | -0 | -1 | 0 | 0 | -0 | 0 | 0 | 1 | 10 |
| Free Cash Flow | -9 | 30 | 4 | -7 | 1 | -11 | -0 | 0 | 8 | -4 | -37 | -0 |
| CFO/OP | -38% | 212% | 159% | 14% | -4% | 2,089% | 86% | 3,400% | 10% | -359% | -131% | 1% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 321 | 372 | 144 | 907 | 10,126 | 7,864 | 1,586 | 756 | 827 | 148 | 160 | |
| Inventory Days | 301 | 313 | 200 | 2 | 0 | 78 | 39 | 100 | 42 | 111 | ||
| Days Payable | 159 | 537 | 127 | 190 | 965 | 302 | 240 | 71 | 107 | |||
| Cash Conversion Cycle | 462 | 147 | 217 | 720 | 10,126 | 7,864 | 700 | 493 | 687 | 120 | 164 | |
| Working Capital Days | 359 | 97 | 77 | -696 | -51,382 | 7,499 | 1,455 | 333 | 75 | 151 | 163 | |
| ROCE % | 8% | 2% | -77% | -76% | -14% | -9% | -5% | 1% | 3% | 34% | 25% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2027 (P) | |
|---|---|---|---|---|
| Maximum Transformer Power Rating MVA |
|
|||
| Maximum Transformer Voltage Class kV |
||||
| Manufacturing Capacity MVA/year |
||||
| Capacity Utilization % |
||||
| Cumulative Transformers Supplied (60 Years) Units |
||||
| Manufacturing Plant Area sq. m. |
||||
| Order Book INR Crores |
||||
| Receivable Cycle Days |
||||
| Target Manufacturing Capacity (FY27) MVA/year |
||||
Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
4h - Copies of Audited Financial Results (Standalone & consolidated) of the company for the quarter and year ended 31st March 2026 published in Business Standard (All …
-
Compliances-Reg.24(A)-Annual Secretarial Compliance
22 May - Submitted repair estimate for 630 kVA transformer to WBSETCL after inspection.
-
Audited Financial Results (Standalone & Consolidated) Of The Company For The Quarter And Year Ended 31St March 2026
22 May - Board approved FY26 audited results and expansion to 400 kV/500 MVA transformers, raising capacity to 26,000 MVA.
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
21 May - Marsons won INR 29.85 crore order from US solar developer for 200 MVA 115 kV power transformer supply.
-
Board Meeting Intimation for Consideration And Approval Of Audited Financial Results Of The Company And Quarter Ended 31St March 2026.
15 May - Board meets May 22, 2026 to approve FY26 audited results and consider infrastructure upgrades.
Annual reports
-
Financial Year 2025
from bse
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2011
from bse
Business Overview:[1][2]
MSL is an ISO 9001:2008 certified and
CPRI, ERDA, and NABL accredited, multi
product and service organization engaged
in manufacturing, supplying, erecting, testing, and commissioning of Power and Distribution transformers of various ratings, which include 10 KVA, 50 MVA 132 kV class, up to the range of 160 MVA 220 kV class.